(i) permit the carrying on of a restricted activity (not being a merger) that is otherwise
prohibited, or

(ii) fulfil the requirement specified in the provision concerned for the restricted
activity (not being a merger) to be authorised,

as the case may be.

(2) In a case where the restricted activity is a merger, this Chapter sets out the
way in which each of the merging companies can, by—

(a) every member of it entitled to vote at a general meeting of the company voting
in favour of a resolution at such a meeting, and

(b) its directors making a certain declaration,

authorise, as provided in
section 464(1)
, the merger to be put in effect without certain procedures under
Chapter 3 of
Part 9 having to be employed.

(3) The provisions of this Chapter shall be read and shall operate so that a restricted
activity may be carried on at a time falling before compliance with the requirement
(arising under
section 203,
204,
205,
206 or
207 as the case may be) that a copy of the appropriate declaration be delivered to the
Registrar; however — should a failure to comply with that requirement occur — that failure then invalidates the carrying on of the activity, but this is without
prejudice to the power of validation conferred subsequently by this Chapter on the
court.